Making Money

1H Results for Finances from InvestorBlogger

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I have been pretty quiet recently about blogging and income reports, mostly because things have been ticking along slowly, and there really hasn’t been much additional news. So how did I fare with my online earnings in the first six months of the year? Well, I’ve made a Google Spreadsheet that calculates and displays the totals for you.

You should note that I have been earning additional money via Amazon and Adsense, but because of their payout limits, I’m including their totals in the grand total only provisionally: Currently, Amazon is $49.56 and Adsense is $19.86. ClickBank has contributed nothing yet.

In 2008 1H, I generated an estimated $3961.95 in additional income compared to 2007 1H $3322.80. So let’s see how I’ve done in 2009. Remember I’ve switched to cash accounting so amounts like Amazon or Adsense only count if I have the check in my hands (I don’t!)

As you can see, my earnings have had a real hatchet job done to them: what happened? First and foremost, I’m now one client less on my hosting since last year, the online advertising market is very soft at the moment, though specific areas are doing well. I quit working for PayperPost in 2009 after they switched from paying sweeties to paying peanuts for the same work (or similar), and SocialSpark just never worked for me, even with top ranking blogs. I had very little choice but to stop wasting my time on their system. I’m grateful for the work and the fact that I was able to earn nearly $2000 with them. But PayU2Blog is now approaching a similar sized figure, and so far I’ve had only technical glitches with them. Of course, Google has just spanked one of my blogs thoroughly, so I don’t doubt that this will ease the number of assignments I get.

Interest rates have dropped through the floor, causing my bet that rates would rise when I bought my last CDs to fail. I would have done better with fixed rate CDs at the end of last year, but I made the wrong choice. Woops! And the stock market swoon has taken quite a chunk out of my expected dividends, though I think I’ve done comparably well with 2008. That’s probably only due to owning more stock than last year.

Overall, you will see a 15.62% decline in the income since 2008. While that’s not surprising given how difficult things are at the moment, the fact that I can still earn about $550 pm extra income from careful choices, online sources and owning a small business shows the benefits of diversifying the sources of your income as much as possible. There are one or two cash payments I didn’t record properly over the six months, too, but since I have no record of them I can’t really Even having an extra 10% of income gives you a little more wiggle room than before.

I’m now facing the possibility at work that I may have to cut my own job to part-time status for the time being. While I earn and do a lot of work for the business, we’re also facing a slowdown of about 10% in the past 6 months from 2008. It’s certainly enough to eat our profit margin up, so since our labor costs are so high, and I’m the one now teaching the fewest hours, I have little or no choice. We’re about to run a new marketing campaign in August, but if that doesn’t produce an upswing in enrolments, then we face little choice but to cut my hours (and my salary). I’m hoping that the slowdown isn’t the ‘new normal’ everyone is talking about.

WordPress Techniques: Add an AStore to your site: It’s quick and easy

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I’ve been an affiliate of Amazon for quite some time, as some of you will know. There are a number of tools on the market for integrating Amazon products and data into your site. And there are quite a few plugins for WordPress, too, that do the same thing.

But for various reasons, I don’t like to install plugins that do things that can be done otherwise without a plugin. I feel it slows the installation of WordPress down. There are quite a few store type applications and plugins, too.

What is Amazon Astore?

aStore is an Amazon.com product which allows website owners to create an online store on their site without programming skills. Pages from the store are created by using configuration pages to create, edit and customize the content and design.

Website owners choose from the products on Amazon’s store and they can earn referral fees on the products purchased by their visitors with commissions ranging from 4% to 10% of the product price.

So, sign up for an account at Amazon, then once approved, sign on and click on the top aStore button on the top of the screen. You’ll be taken to a simple list of your aStores. (You won’t have any yet).

Building and stocking your store

Click on “Add an aStore“, then choose or add your affiliate id.

astore login

Once you’re there you can figure things out: Click ‘Add a category page’, set your aStore settings. Then build your store. You can take a look at my Eee PC Store setup. The structure is flexible, editable and updateable. Once you’ve set up your store on your site, you don’t have to edit anything on your blog at all. The actual store set up is handled entirely here.

asus eee pc store

You can also alter the page structure on the left, as well as the categories and description on the right. Adding products is also particularly easy and can be done in one of three ways: by clicking on an image, adding a list (for large stores), and searching in the product box. You’ll only see these products when you click “Add products.”

Designing your store

Once you’ve built and stocked your store, you can now design and decorate it! Click on Continue.

decorate your astore

Since you’re integrating your aStore with your wordpress installation, you’ll need to try and match the store with the colors of your wordpress theme. If you’re not sure what colors to choose, use Ades ColorPicker (it’s free!). When you’re happy, name your store, and click continue. You’ll be offered sidebar options as well that you can alter as you need. I don’t usually place my Amazon Wishlist on any site, but I occasionally use ‘listmania’, ‘similar items’, ‘accessories’ as well as ‘editorial reviews’.

Once done, click ‘finish and get link’. You’ll see three options on the next page. I always choose the second, since I don’t want to create a standalone site, and I would like to embed the store ON my site.

Usually the code for this will look like this

<iframe src=”http://astore.amazon.com/amaffiliateid-20″ width=”90%” height=”4000″ frameborder=”0″ scrolling=”no”></iframe>

You can change the width setting, the height setting and the scrolling. I don’t usually change the first setting. But I do edit the height to about 1200 or so because it creates a lot of blank space if you are not using customer reviews. Frameborder as 0 means you won’t always see the edges, and creates a sense of seamless integration. I would suggest setting scrolling to ‘auto’, though just in case you get the longer reviews.

You can experiment with these settings, but you have to edit the embedded page, not the aStore page! Remember that!

Setting the foundations

If you don’t get the color scheme quite right, don’t worry. Once you’ve embedded the store, you can simply edit the color scheme in Amazon. Go to your WordPress install, create a blank page for your astore, and (if your theme has the options) choose a page WITHOUT a sidebar since you cannot really change the width of your aStore much. If your current theme doesn’t have a page without a sidebar option, you’ll need to edit your theme and create a new template for this. If you’ve never edited your theme before, this step may be the most difficult.

Create a page without sidebar template

Get your page template for your current theme. Save the file with a new name (e.g. page-no-sidebar.php). Then open the new file in your text editor. Remove the line <?php get_sidebar(); ?> from the bottom of the page. Save it. Upload it to your theme directory.

Embedding your store

Login to wordpress, and create a new page. When you do, don’t forget to choose the appropriate page template which is under ‘page attributes’ in a drop down menu. Give the page a title (‘store’!). Use the HTML editor mode to paste the <iframe> code into the page, hit save and then view your page.

If you’re not happy, you can play with the CSS in Amazon’s aStore settings, or the actual iframe settings on your embedded page.

Why would you create an aStore page within a wordpress site? Well, it allows you to manage and setup a full site with all the extra frills you need to run a profitable affiliate site: tracking stats, proper SEO, sitemaps, articles, policies, etc.. As a barebones affiliate store, the standalone version doesn’t give you much. To see a sample of a store I set up using this method, check out the store here or on EeeBlogger.

I hope you found this summary helpful. I have skimmed over some things… if you find it erroneous, drop me a line and I’ll edit/update the text!

From Profession to Business: 3 things I learned about customers

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I’ve had quite a checkered history of entrepreneurialism, and it wasn’t till I came to Taiwan that I discovered that part of my soul. Although it was in my previous professional field, ESL teaching, it made no difference. I found myself contracting out as a tutor, advising students, editing, and a whole bunch more that came with the territory.

First Steps

Eventually, I started teaching in my home in a small home classroom I set up in my first house. Of course, the class fell apart because at the end of the renewal period, most of the clients couldn’t understand what I was doing or why.

Shortly after, we moved house to a new location, and the home classroom became quite an event with students on almost a daily basis. It was a difficult time: I had three jobs, and moved between each of them, so I was unable to promote the home school properly. Eventually, my ‘full-time’ jobs overtook the time I could devote to my home school. I still taught private students occasionally, though.

In Business

It was during the early part of that time that I also became involved in a teaching company called Savant, that provided ESL instruction to corporate clients in Taiwan. A friend, Tyler Rainsbury, set up (and eventually closed) the corporation and we had quite a few successful clients; but competition was stiff, and we couldn’t find our way forward, even though we had great teachers and good materials. Clients often focused on the bottom line issues and overlooked the other important educational goals.

Then in 2000, we started our first business with actual classrooms before moving to our present location. And business grew quickly over those eight years, outpacing the performance of all my previous businesses in scale, reputation and stability.

We recruited students in Elementary Schools in our area, and quickly became one of the best known schools in the area providing after-school ESL classes to students 6 to 16 years of age. With quality materials, instruction and care, our students have prospered and gone on to some of the best schools, colleges and universities in Taiwan.

A common thread: the customer needs development

There is a common thread running through all of these businesses, and their respective success/failures. We’ve struggled to cultivate our customers in each of the businesses we’ve run; it doesn’t matter whether the business is corporate, personal, adult or child-related.

In the first home school I ran, it was difficult to put out flyers, make contacts, get phone numbers, and do sales because my language skills were insufficient; the market was quite limited; and customers didn’t understand what they were buying or why.

In the second business, customers primarily cared about the bottom line costs; the impact on their business; their cost structure; and regularly played other ESL type consultances off against each other to keep costs down. We failed, despite our best efforts, to differentiate our service from the larger competitors around us.

In the current business, our biggest problem is the scale of our market. We are perhaps described as a big fish in a small pond. There are a number of competitors here, too. But none of them is a direct competitor for our business. Each of them chips away at a corner of our own market: the younger end is chased by the kindergartens, the older by the cramschools, the in-between by the all-in-one schools (who tutor Chinese, English, and math).

To successfully cultivate your customers, you need a clear plan to carry out: and this represents my best thinking on the subject.

1. Collate, collect and analyse your information

There is no way that you can understand your clients and your potential market without knowing about your clients. So you need to keep records of your clients’ personal information and contact information.

Build mailing lists, email lists, contact lists, and make the information available to your staff so that you can reach out when you need to. Whenever you need to promote something, this information will come in very handy, and save you a lot of time when you need to distribute flyers or disseminate news about your new product or service.

2. Promote, promote, promote

You need to promote your business as best you can in as many ways as you have time to do. While word of mouth is the best way to succeed as it pre-qualifies your customers, you cannot rely on it alone.

Set up your promotion campaign in whatever way you like; when you have a successful promotional campaign, rinse and repeat. When it fails, examine the reasons and move on. You still succeeded to get your name out in front of people, and they will call or drop in. There is no real failure in promotion, even if you didn’t get any sales at all. You still got a chance to talk to people.

We use flyers, posters, websites, email lists, facebook and much more to get information across; but there are still lots of other ways to advertise.

3. Educate your customers

It’s one thing that I consistently remind my colleagues: we need to educate our customers, no matter what they believe. Our ideas and practices are different from the typical ESL suppliers in the local market, and parents often forget that all schools are NOT the same, no matter what they think.

We benefit from this because we can ‘steal’ students from schools that use traditional methods of learning, by pointing out to parents that their little kids can barely say ‘hello’ even after 3 years of English class. Our method works: they can hear and see it for themselves.

But sometimes, parents think they can take their kid and put them back into a traditional classroom after a few years in our school, and they don’t realize that the time they spent teaching their child to speak and use English will be largely lost after just 6-9 months in a traditional classroom.

Educate your customers on the basis of what your product or service hopes to achieve, show and explain how it benefits them directly and why it’s worth what they pay. If necessary, do a direct comparison with the competition.

Those are three of the lessons I’ve learned from teaching and running my own business in Taiwan for the past four years. I’m sure there’s much more I could add. But I want to open the floor to hear your opinions, so do let me know what you think!